Change - Announcement of Cessation::Resignation of Executive Director

Issuer & Securities

Issuer/ Manager
ASTAKA HOLDINGS LIMITED
Securities
ASTAKA HOLDINGS LIMITED - SG1CB5000005 - 42S
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
23-Aug-2021 10:33:52
Status
New
Announcement Sub Title
Resignation of Executive Director
Announcement Reference
SG210823OTHR54AZ
Submitted By (Co./ Ind. Name)
Khong Chung Lun
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Resignation of Executive Director.

This announcement has been prepared by the Company and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. (the "Sponsor"), in compliance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made, or reports contained in this announcement.

The contact person for the Sponsor is Mr Andrew Leo, Chief Executive Officer, at 7 Temasek Boulevard, #18-03B Suntec Tower 1, Singapore 038987, telephone (65) 6950 2188.

Additional Details

Name Of Person
Dato' Zamani Bin Kasim
Age
67
Is effective date of cessation known?
Yes
If yes, please provide the date
31/08/2021
Detailed Reason (s) for cessation
Reference is made to the announcement released by the SGX-ST on 20 August 2021 in relation to the regulatory action taken by the SGX-ST (the "Regulatory Action").

Pursuant to the Regulatory Action, Dato' Zamani bin Kasim ("Dato' Zamani") has provided a signed written undertaking to the SGX-ST to resign from all his current positions and not to be appointed to any position in Astaka Holdings Limited (the "Company") for a period of two years from 17 August 2021.

In light of the foregoing and his plans for retirement, Dato' Zamani has resigned as the Executive Director of the Company. In order to facilitate the administrative procedures required for handover, Dato' Zamani's last day of service will be on 31 August 2021.

After having interviewed Dato' Zamani and to the best of its knowledge, the Company's sponsor, Novus Corporate Finance Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Dato' Zamani as Executive Director of the Company.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?
No
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
No
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
19/11/2015
Does the AC have a minimum of 3 members (taking into account this cessation)?
Yes
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and a member of the Nominating Committee.
Role and responsibilities
Since his cessation as Chief Executive Officer, Dato' Zamani's role as Executive Director has been to guide his successor and the senior management of the Group in the transition period.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Dato' Zamani holds 5% of the issued share capital of Saling Syabas Sdn Bhd, which in turn holds 49% of the issued share capital of Bukit Pelali Properties Sdn Bhd, an indirect 51% owned subsidiary of Astaka Holdings Limited.
Past (for the last 5 years)
1. DMR Land Sdn Bhd (f.k.a Bukit Pelali Development Sdn Bhd)
2. Hexafort Sdn Bhd
3. Layar Canggih Sdn Bhd
Present
1. Astaka Padu Sdn Bhd
2. Bukit Pelali Properties Sdn Bhd
3. Bukit Pelali Healthcare Sdn Bhd
4. Saling Syabas Sdn Bhd
5. Seaview Global Vision Sdn. Bhd.
6. Bukit Pelali Hotels Sdn. Bhd.
7. Astaka Padu Limited